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Developing a convenient means of providing sales representatives with cash for their incidental expenses, such as entertaining a client at lunch, is a problem many companies face. Under one company's plan, the sales representatives receive advances in cash from the petty cash fund. Each advance is supported by an authorization from the sales manager. The representative returns the receipt for the expenditure and any unused cash, which is replaced in the petty cash fund. The cashier of the petty cash fund is responsible for seeing that the receipt and the cash returned equal the advance. When the petty cash fund is reimbursed, the amount of the representative's expenditure is debited to Direct Sales Expense.
What is the weak point in this system? What fundamental principle of internal control is being ignored? What improvement in the procedure can you suggest?
Record all of the applicable acquisition - construction entries for each of these assets.
The stock, which trades on a regional stock exchange, has a $25,000 FMV on the contribution date. Illustrate what is Yellow Corporation’s charitable contributions deduction for the current year?
The city of Beverly heights general fund had the following transactions among others in 2017, 1. Appropriations were made as follows: personal services $111,400, contractual services $8,700, material and supplies 8,500, New Patrol cars 21,000, other ..
if we were to look at an incomplete unit at end of any provided department would we expect to see a difference in the
What are Virtual assets- How are they different to the commonly understood notion of intangible assets and do these items meet the definition criteria for assets contained in the Framework?
Determine the adjustments required to the company's preliminary 2014 financial statements and justify your position.
Prepare the general journal entry to record the employer's payroll liability-Prepare the general journal entry to record the employer's payroll tax liability.
choose a publicly traded company involved in a merger or acquisition transaction that occurred in the last five years
1. affiliate x in ireland sells 10000 units to affiliate y located in canada per year. the marginal corporate tax rate
For each of the following pairs, indicate how the first individual is related to the second by riting (L) line authority, (S) staff authority, or (N) no authority.
Actual manufacturing overhead incurred for August amounted to $88,000.
Consider the following: Net income = $10,000, depreciation expense = $2,000, accounts receivable increased by $700, inventory decreased by $400, and accounts payable increased by $300.
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